Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 1183108
- Posted On: Jan 24, 2020
- Updated On: Apr 19, 2021
Description
Established 7 unit park-owned mobile home park on 1.6 acre parcel. Hwy 231 / 431 frontage. High visibility location with over 25k vehicle count per day. Currently operated as an all adult community. Most tenants multi-year residents.
Location
Located in Park City Tennessee in proximity to new $40M car parts plant, municipal airport, industrial park. Growth area with significant redevelopment potential. Well positioned on Fayetteville - Huntsville corridor, experiencing substantial development.
Amenities
- Laundromat
- Storage
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 7 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $500 |
| Size: | 2 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $41,000 |
| Operating Expense: | $13,300 |
| Net Operating Income: | $27,700 |
| Expense Ratio: | 32.4 % |
Lot Information
| Singlewide Lots: | 7 |
RV Information
| Number of RV Lots: | 2 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 7 |
| Average Rent for Park-owned Homes: | $500 |